Raydium 推出 Pump.fun 克隆版，行业反响不一

10x Research 的一份新报告表明，现在逢低买入还为时过早，因为比特币很快就会跌至 73,000 美元左右。10x Research 首席执行官兼首席分析师 Markus Thielen 表示，下一轮牛市将需要一个新的叙事。 10x puts a substantial chunk of the blame for the crypto market decline on Trump’s policies and memecoins collapse: “许多散户投资者现在持有的投资组合中充斥着模因币，其中大部分都在缓慢归零，在特朗普的带领下，模因币在投机的重压下崩溃，就像所谓的加密总统领导下的大盘一样。” 阅读更多：特朗普主义获胜而加密货币失败了吗？交易员反应导致比特币、以太坊和 XRP 下跌 Memecoin 泡沫 该报告于 2025 年 3 月 11 日发布。据报告称，又一个投机泡沫破裂了。2021 年是 NFT/DeFi 泡沫。这次是 memecoins 泡沫。以太坊不再用于 memecoins，而基于 Solana 和 Pump.Fun 的代币正在严重下跌。 The memecoins’ bubble burst affected other crypto market players. One of the oldest and the most popular memecoin, Dogecoin, lost 33% of its price in February. The memecoin market bleeding undermined Bitcoin’s position as well. According to the report, “This structural decline indicates a weakening foundation, making now a time for caution — not complacency. Bitcoin (BTC) is steadily heading toward $73,000. If history is any guide, the next major (up) move will require a new narrative.”  Interestingly enough, the BTC decline takes place amidst the long-awaited embrace of crypto by the White House while gold price hits new heights amidst the incredibly crypto-bullish headlines. The market will keep declining On Mar. 12, 2025, Thielen appeared on a Wolf of All Streets YouTube stream, discussing his report with host Scott Melker. Although the crypto market has already gone through a serious decline, especially when it comes to memecoins, Thielen says the prices will keep on declining.  Crypto ETFs are being sold continuously. At the same time, Donald Trump threatens Canada to increase tariffs on auto imports on Apr. 2, which creates a sense of chaos and disorientation among traders. It sets expectations for April but leaves traders uncertain today. More than that, Thielen said that the new rate cuts by the Fed are not expected until the summer. It stretches the uncertainty period even more.  这就是比特币价格将继续走低的原因。谈到可以被视为真正下跌的水平，Thielen 表示，当比特币跌至 73,000 美元时，他已经买入了 BTC。 新闻不会推动比特币 在 YouTube 直播中，斯科特·梅尔克 (Scott Melker) 指出，尽管有很多好消息，但比特币价格并没有上涨。他引用了最近重新提出的 Lummis 法案，该法案敦促美国在五年内购买一百万比特币。该法案已进入国会。梅尔克说，在过去，这样的消息肯定会推动比特币上涨。然而，我们现在看到的是相当冷淡的反应。 除了 Lummis 法案的消息外，Melker 还提到，SEC 一再撤销针对加密货币公司的诉讼，以及加密货币监管的全面放松，这些都是好消息，但出于某种原因，这些消息目前并没有推动市场发展。Melker 称市场对新闻的麻木是熊市阶段的特征。 总体而言，就职典礼后比特币的走势远非乐观，这与新闻报道的相反。梅尔克提供了一张图表，显示特朗普就职典礼后，比特币下跌了 25%，以太币贬值了 46%。许多其他资产也在下跌。仅有的两个赢家是黄金（7%）和欧洲股票（10%）。这可能感觉与加密货币交易员在新闻中看到的情况完全相反。 If someone had shown you this chart of the best (and worst) performing asset classes since Trump's inauguration, would you have believed them? pic.twitter.com/Mg2qHcCOeo— Nic (@nicrypto) 2025 年 3 月 12 日 蒂伦认为，比特币储备的消息可能会让加密货币交易者感到失望，因为 Lummis 去年首次谈到战略比特币储备，自那以后，美国仍然没有购买比特币。蒂伦将特朗普本月早些时候签署的比特币储备行政命令称为“重新命名没收的比特币”。蒂伦认为，公众需要“证据”证明在 Lummis 谈论该法案几个月后确实采取了行动。这就是该消息无法点燃市场的原因。 蒂伦表示，2月份CPI达到2.8%，高于预期的2.9%，这一消息引发的积极反应过于乐观，因为2.0%以上的CPI水平仍然相当高。 总而言之，Thielen 毫不怀疑比特币会随着时间的推移而复苏，但正如报告中提到的那样，除非出现新的强有力的叙事，否则这种情况不会发生。 你可能还喜欢：From Trump tokens to LIBRA lows: Meme coin circus rolls on, bolstered by recent SEC ruling

Arbitrum DAO 正在加倍投资现实世界的资产，并批准了一项向该领域分配更多资金的提案。 2 月 18 日，Arbitrum DAO 宣布社区已批准将 3500 万 ARB 分配到各种稳定资产中。按目前 Arbitrum (ARB) 价格约 0.44 美元计算，总投资价值约为 1550 万美元。 这些资金来自该项目的稳定财政捐赠计划，该计划此前已于 2024 年 6 月拨款 3500 万 ARB 用于投资六种产品。 STEP 是一项旨在将 Arbitrum DAO 资金的 1% 投资于代币化 RWA 的计划。该计划旨在实现 DAO 资金的多元化，同时利用行业增长来产生收益。 你可能还喜欢：PancakeSwap 将高级交易工具扩展到 Arbitrum、Linea 和 Base The latest allocation is part of Arbitrum DAO’s STEP 2.0 initiative. It adds to the 35 million ARB from STEP 1.0 and 15 million ARB from treasury management, bringing the total RWA investments to 85 million ARB. According to Arbitrum DAO, this investment is currently one of the largest by a DAO. “So far, STEP has accrued $450K in interest for the DAO,” Arbitrum Foundation said in a post on X. In July last year, the Arbitrum community approved allocations to BlackRock’s BUIDL, Ondo Finance’s USDY, and Superstate’s USTB. Other tokenized asset products selected for investment included Mountain Protocol’s USDM, OpenEden’s TBILL, and Backed Finance’s bIB01. Arbitrum’s growing presence in the RWA market is evident in the total amount of on-chain assets launched on the network in 2024. With BlackRock and Franklin Templeton among those expanding their products to Arbitrum, the network’s RWA market share surged from around $100,000 at the start of the year to approximately $70 million. According to rwa.xyz data, Ethereum currently leads the RWA market with over $3.8 billion in assets. ZKSync Era ranks second with nearly $2 billion, while Stellar follows in third with about $380 million. 你可能还喜欢：Grayscale 推出 Pyth Trust 以扩大 Solana 上的机会

Vitalik Buterin, co-founder of the largest altcoin, Ethereum, proposed a plan to revamp the ETH blockchain. After months of criticism and allegations faced by the Ethereum Foundation, the 31-year-old entrepreneur addressed major concerns regarding the “complexity” of adding new developers to the blockchain platform.  Ethereum (ETH) is home to $59.88 billion in total value of assets locked on its chain. Layer 2 and Layer 3 chains scaling Ethereum tackle the issue of user adop/REtion and scalability for the underlying blockchain, in exchange they derive security from ETH.  Table of ContentsButerin plans to simplify Ethereum blockchainHow Ethereum could battle Bitcoin in five yearsDecentralizing Ethereum furtherEthereum Price ForecastEthereum ETF flows and tokenization gold rush  Buterin plans to simplify Ethereum blockchain Vitalik Buterin acknowledged that the Ethereum blockchain has layers of technical complexity that makes it challenging for developers to get onboarded, maintain or develop projects on the chain.  The Ethereum Virtual Machine (EVM) is considered the heart of the ETH blockchain and Buterin believes it can be replaced with a simpler alternative. Buterin’s proposed plan is to simplify the Ethereum blockchain to Bitcoin’s extent, boosting the adoption of the chain and its native token.  In a blog post on May 3, Buterin said that the simplification could reduce the cost of creating new infrastructure on the Ethereum blockchain, lower maintenance costs and boost performance.  You might also like:Bitcoin and Ethereum on alert as $3b worth of options expire on Friday How Ethereum could battle Bitcoin in five years In his proposal, Buterin outlined a roadmap to simplify Ethereum and bring it as close as possible to the Bitcoin blockchain. Explaining how Bitcoin’s technical architecture can be understood by high school students and programmers can write client projects as a hobby on the side, Buterin says ETH can evolve.  In a nutshell, Buterin proposed that the Ethereum development team fix an explicit maximum line of code target for the long-term. The objective is to simplify Ethereum and bring it as close to Bitcoin as possible, in terms of consensus.  Buterin described several rules for code and developers that would make the process easier and likely invite more devs to join in and build on the chain.  While Buterin plans for Ethereum to take on Bitcoin in five years, as of 2025, the ETH/BTC ratio hit its lowest level in over five years. The last time ETH/BTC visited the 0.01766 low was January 2020.  This could be Ethereum’s bottom. Since hitting the low, the ratio has recovered. ETH/BTC trades at 0.02237 at the time of writing.  ETH/BTC weekly price chart | Source: Crypto.news Decentralizing Ethereum further Ethereum’s Merge was slammed as a move away from decentralization, as it shifted the consensus mechanism from Proof-of-Work to Proof-of-Stake. However, Buterin differs from the community’s opinion on this and says simplification of the Ethereum blockchain is akin to decentralizing it further.  The processes of simplification and decentralization are both upstream of the chain of “resilience” and require cultural changes within the project. Buterin acknowledges in his blog that the benefits may be illegible.  Intent on rebuilding Ethereum from the inside out and boosting competition against Bitcoin, Buterin lists the cost of “extra effort” in his blog post. You might also like:Ethereum rallies 20% as ETH reaches its most undervalued level relative to BTC since 2019 Ethereum Price Forecast Ethereum ended its consolidation on May 7 and started its rally. ETH is 11% away from its resistance R1 at the lower boundary of an FVG at $2,550. Ethereum faces next key resistance at R2, $2,745.  Ethereum could find support at the lower boundary of an FVG at $1,850, in the event of a crash.  Key technical indicators, RSI and MACD support further gains in Ethereum. RSI slows upwards and reads 80, MACD flashes green histogram bars above the neutral line.  ETH/USDT daily price chart | Source: Crypto.news Ethereum ETF flows and tokenization gold rush  U.S.-based Spot Ethereum ETFs recorded $16.11 million in outflows on May 8, against Bitcoin’s net inflows. Institutional investors remain wary of pouring capital into altcoins, while Bitcoin benefits from rising stablecoin reserves on exchanges and positive daily net flows to Spot ETFs.  Ethereum ETF flows | Source: SoSo Value  Though Solana competes with Ethereum for dominance across several metrics across decentralized exchanges, ETH remains the first choice for real-world asset tokenization.  A mention of tokenization is incomplete without BlackRock’s BUIDL, a tokenized U.S. Treasury fund built on the Ethereum blockchain. The fund was launched in early 2024 and currently has over $2.5 billion in assets under management.  At the time of writing, Ethereum accounts for 74% of the market for tokenized U.S. Treasuries and represents $6.2 billion. These catalysts contribute to the recent gains in ETH and the likely rally, in the short to medium term, in the altcoin.  Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

随着比特币下跌，波动性蔓延，希夫预见到了终结。但鉴于标准普尔指数现在也反映了比特币的走势，比特币真的要失败了吗？ 目录比特币再次“死亡”2025 年会发生什么？Bitcoin in past crises 比特币再次“死亡” 彼得·希夫长期以来一直是比特币 (BTC) 最直言不讳的批评者之一。多年来，他一直坚持认为该资产缺乏内在价值，其价格纯粹由投机驱动，并且会在真正的经济危机面前崩溃。 比特币诞生于2008年的金融危机。讽刺的是，2025年的金融危机将会摧毁它。— Peter Schiff (@PeterSchiff) 2025年4月10日 4 月 11 日，他在 X 上重申了这一观点，写道：“比特币诞生于 2008 年的金融危机。讽刺的是，2025 年的金融危机将会扼杀它。”他的言论将比特币的起源与其潜在的垮台直接联系在一起。 To evaluate that claim, it helps to revisit the conditions that led to Bitcoin’s creation. The 2008 financial crisis brought the global financial system to the brink.  Several major banks either failed or required urgent bailouts. Credit markets seized up, and investor confidence evaporated.  In response, central banks slashed interest rates to near zero and launched aggressive monetary interventions that defined the decade ahead. Bitcoin emerged in the midst of this turmoil. Its release in early 2009 was rooted in a clear intent to propose an alternative monetary framework. One that removed central authorities, eliminated the possibility of bailouts, and introduced a transparent supply mechanism immune to political interference. So if a crisis gave birth to Bitcoin, can another one eliminate it? Or has Bitcoin endured precisely because financial systems remain fragile? Let’s find out. 2025 年会发生什么？ 要评估比特币是否能够抵御未来的金融危机，首先必须了解当前金融危机的性质。 与2008年因银行系统崩溃而引发的危机不同，2025年的动荡主要是由政策选择引起的，尤其是全面征收关税。 4 月 1 日，特朗普总统宣布全面提高关税，影响超过 75 个国家，税率从 11% 到 50% 不等，具体取决于产品和原产地。 中国作为美国最大的贸易伙伴，被排除在总体政策框架之外，反而面临更为严厉的贸易限制。 The announcement caught global markets by surprise and set off immediate volatility across equities, commodities, and currency markets. In the days that followed, the economic fallout deepened.  U.S. stock indices lost more than $12 trillion in value across a few trading sessions, while bond markets showed signs of strain, with the yield on the 10-year Treasury briefly rising above 4.5%. Under growing pressure, the White House revised its approach. On Apr. 9, it announced a 90-day suspension of most tariffs, although restrictions targeting China remained in place.  The announcement helped calm markets temporarily. Bitcoin (BTC), which had dropped to around $74,500 earlier in the month, rebounded toward the $83,000 to $85,000 range after the pause. Analysts identified that level as a key area of technical resistance. 虽然关税的暂时下调带来了一些短期缓解，但并没有消除对投资者情绪或全球贸易势头造成的更广泛损害。 中国对此反击来回，首先是征收报复性关税，税率从34%开始，截至本文撰写时已升至125%，使双方的对抗升级为全面的贸易僵局。 目前已有 70 多个国家正在与美国进行重新谈判，但不确定性仍然给市场带来沉重压力。 过去危机中的比特币 尽管与传统资产相比，比特币尚显年轻，但它已经历经了多场危机，从全球市场崩盘到系统性银行倒闭。每一次危机都让我们深入了解它在压力下的反应，以及为何难以对其进行简单的分类。 The COVID-19 crash in March 2020 marked its first major test in a macroeconomic crisis. As global markets unraveled, Bitcoin plunged by more than 50%, falling from around $9,000 to under $4,500 within days.  Yet the rebound was equally sharp. Within two months, it had recovered all losses, and by year-end, it was trading above $28,000.  The rally was fueled by a mix of retail demand, growing institutional interest, and reflation-driven trades, supported by a wave of central bank liquidity. 2022 年，压力来自加密生态系统内部。Terra 的崩溃和 FTX 的破产引发了深度回调。比特币从 2022 年初的 45,000 美元以上跌至 11 月的 16,000 美元以下。 虽然这些事件是加密货币所特有的，但它们是在全球流动性收紧的背景下发生的，美联储积极提高利率以抑制通胀。 也许最能说明问题的时刻出现在 2023 年初，当时硅谷银行和 Signature Bank 等美国地区性银行在几天之内相继倒闭。 随着人们对存款安全性和央行干预的质疑声四起，比特币价格在不到两周的时间内大幅上涨，从约 2 万美元飙升至 2.8 万美元以上。对许多投资者来说，比特币一度似乎成为了规避传统银行风险的避风港。 这些事件表明，比特币的行为并不是固定的。在市场普遍承压期间，它通常像风险资产一样交易，但在机构失灵或货币不确定时，它也会吸引资本。 比特币并不是一种传统的对冲工具，而是一种替代资产，其作用取决于每次危机的性质和起源。 最近的市场动荡进一步模糊了界限。正如彭博社的 Eric Balchunas 所观察到的，“标准普尔 500 指数现在和比特币一样波动。” 标准普尔 500 指数现在和比特币一样波动 pic.twitter.com/OrO68Z0HiS— Eric Balchunas (@EricBalchunas) 2025年4月10日 传统资产和数字资产之间的关联不再那么明显，投资者越来越多地将它们视为同一风险领域的一部分。 This complexity is often missed in binary arguments. Schiff continues to frame downturns as existential threats to Bitcoin. Others see the asset as inherently resilient, gaining strength when conventional systems show cracks.  So far, the truth has been more nuanced. Bitcoin is neither immune nor obsolete, it is adaptive, and its relevance depends on what breaks next.

随着生态系统内出现新的发展以及潜在 ETF 计划的宣布，CRO 摆脱了持续数周的盘整阶段。 3 月 25 日亚洲时间下午，Cronos (CRO) 上涨 38%，盘中最高达到 0.114 美元，突破了过去 4 周以来一直处于的 0.07-0.095 美元盘整区间。其市值为 22.6 亿美元，在大量交易活动的推动下，其日交易量飙升超过 1,300%，达到近 3 亿美元。 今天的上涨之前有报道称，Truth Social 的母公司特朗普媒体科技集团已与 Crypto.com 达成非约束性合作伙伴关系，将以 Truth.Fi 品牌推出一系列新的交易所交易产品。 这些即将推出的 ETF 和 ETP 预计将包括 CRO 和比特币等加密货币以及突出“美国制造”主题的传统证券，涉及能源、制造业等行业。 投资者们大肆宣传，因为该计划似乎符合 Crypto.com 的更广泛战略，该战略包括计划在今年晚些时候（可能在第四季度）申请专门的 CRO ETF。 你可能还喜欢：随着 5000 万美元 Cronos 代币销毁投票开始，CRO 价格上涨 与此同时，由于该项目将于明天（3 月 26 日）世界标准时间上午 7:00 进行主网升级，该山寨币也获得了关注。 此次升级将引入智能账户 SSO，允许用户使用 Google、Apple ID 或电子邮件登录，无需使用种子短语或私钥。它还为 ZK Gateway 奠定了基础，预计将改善 ZK-rollup 链的跨链互操作性。 据 CoinGlass 称，衍生品交易员正在大量涌入 CRO，其期货市场的未平仓合约在一天内几乎翻了一番，达到 4400 万美元以上。社交情绪也变得积极，CRO 在 X 上趋于流行。 市场评论员看好该代币的长期前景。一位社区成员预测该代币可能飙升至 3 美元，较当前水平上涨超过 2,600%。 另一位匿名分析师 CW8900 指出，突破 0.235 美元大关可能引发 CRO 全面牛市。 $CRO 正在突破第一道卖墙。如果它突破了该卖出壁垒，下一个价格将是 0.19 美元。如果它突破 0.235 美元的卖墙，就不会再有阻力了。真正的牛市从那一刻开始。pic.twitter.com/yYNK0dpgs3— CW（@CW8900）2025 年 3 月 25 日 CRO技术分析 技术指标也表明CRO未来将进一步上涨。 在 1 天/USDT 图上，CRO 已突破 50 天和 200 天指数移动平均线，这是持续看涨逆转的明确迹象。 CRO price, 50-day and 200-day EMA — March 25 | Source: crypto.news The MACD line has crossed the signal line with both pointing upwards while the Chaikin Money Flow Index was gradually shifting towards the neutral line which indicates that buying pressure is building up and fresh capital or funds is starting to flow into the asset. CRO CMF and MACD chart — March 25 | Source: crypto.news Hence, the next possible target for CRO is the $0.15 psychological resistance, a key level that could act as a short-term hurdle. A break above this zone could give bulls the confidence to push further, potentially setting their sights on CRO’s December high of $0.214 as the next major upside target. However, community backlash over Crypto.com’s reissuance of 70 billion previously burned CRO tokens has raised questions around transparency. If the situation escalates further, it could stall or even reverse the current bullish momentum. 阅读更多：Particle Network将于今日登陆币安和OKX，PARTI是什么？ 披露：本文不代表投资建议。本页内容和材料仅供教育之用。